At 31 March 20X2 a company had oil in hand to be used for heating costing $8,200 and an unpaid heating oil bill for $3,600. At 31 March 20X3 the heating oil in hand was $9,300 and there was an outstanding heating oil bill of $3,200. Payments made for heating oil during the year ended 31 March 20X3 totalled $34,600. Based on these figures, what amount should appear in the company's statement of profit or loss and other comprehensive income for heating oil for the year? A $23,900 B $36,100 C $45,300 D $33,100
At 31 March 20X2 a company had oil in hand to be used for heating costing $8,200 and an unpaid heating oil bill for $3,600. At 31 March 20X3 the heating oil in hand was $9,300 and there was an outstanding heating oil bill of $3,200. Payments made for heating oil during the year ended 31 March 20X3 totalled $34,600. Based on these figures, what amount should appear in the company's statement of profit or loss and other comprehensive income for heating oil for the year? A $23,900 B $36,100 C $45,300 D $33,100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At 31 March 20X2 a company had oil in hand to be used for heating costing $8,200 and an unpaid
heating oil bill for $3,600.
At 31 March 20X3 the heating oil in hand was $9,300 and there was an outstanding heating oil bill of
$3,200.
Payments made for heating oil during the year ended 31 March 20X3 totalled $34,600.
Based on these figures, what amount should appear in the company's statement of profit or loss and
other comprehensive income for heating oil for the year?
A $23,900
B $36,100
C $45,300
D $33,100
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